Making sure that your hotel appeals to your target audience is critical to your ongoing success in the hospitality industry. The right hotel financing options can help you to update and upgrade your amenities to align with the preferences of your guests. Mobile innovation is one of the most important areas in which improvements may be overlooked by hotel owners and managers. Using hotel loans and financing to upgrade technologies for booking, messaging and requesting special services will often pay off in increased guest loyalty and recommendations for your facilities and customer service.
The Most Wanted List for Hotel Guests
According to recent studies and surveys, most hotel guests would prefer to use their mobile device to conduct a wide range of activities in the hospitality marketplace:
- Oracle Research found that 88 percent of the guests they surveyed would be interested in a mobile app that would allow them to personalize their hotel experience.
- SmithMicro’s research indicated that 83 percent of respondents wanted promotions for hotel services and amenities to be sent directly to their mobile device.
- A YouGov poll found that 58 percent of those responding to the survey wanted to be able to book hotel restaurant reservations by using their mobile devices.
- More than half of all those responding to the Hospitality Technology magazine’s 2018 Customer Engagement Technology Study indicated that they would like the ability to pay using a mobile device. Only 28 percent of hotels, however, said they had that capability.
While about 80 percent of hotels allow the use of mobile devices and smartphones to book room reservations, only 30 percent are equipped to allow changes and management of reservations through the same smartphone or device.
Adding the Amenities That Matter to Guests
The right hotel financing options will make it much easier for your hotel to upgrade its mobile and technological services to accommodate the wishes of your guests. Implementing mobile pay options, for instance, is usually a relatively low-cost process that will pay off in improved customer satisfaction. Changing workflows and adding systems that allow for mobile bookings at your hotel restaurant or alterations of existing reservations will usually pay off in an improved reputation for customer service that can increase your profitability in the competitive marketplace.
At Stonehill Strategic Capital, we offer the most advanced and practical options for hotel construction financing, bridge loans, permanent loans, mezzanine financing, preferred equity lending arrangements and PACE lending options. We work with our clients to provide the most appropriate hotel financing options for a wide array of renovation and acquisition requirements. Call our team today at 713-666-2544 to schedule a consultation. We look forward to the opportunity to serve you now and in the future.